Tenth Tysabri infection case
BIOGEN, Elan's research partner for multiple sclerosis treatment Tysabri, has reported that a 10th patient taking the drug has developed the potentially deadly brain infection associated with the therapy, progressive multifocal leukoencephalopathy (PML).
The announcement sent Biogen's shares down nearly 7pc while Elan stock finished down more than 1.6pc yesterday at €4.99. Tysabri is considered critical to the future growth of both companies.
The drug was temporarily withdrawn from the market in 2005 after it was linked with the infection. It was brought back the next year with stricter safety warnings.
Sales of the drug have failed to live up to expectations. It generated $227m (€161m) in the first quarter, less than the $246m analysts had expected.
Biogen has recently begun taking a more aggressively upbeat tone in marketing the drug, insisting physicians are becoming more comfortable with the risk of PML. Even so, some analysts believe doctors may take patients off the drug for certain periods of time.
Meanwhile, Elan said it would not comment on recent speculation that Swiss drugmaker Novartis was linked to talks about buying parts of the drugmaker.
- Ailish O'Hora
